Is FXCM better than Interactive Brokers? After testing 30 of the best forex brokers over five months, FXCM is better than Interactive Brokers. While its range of tradeable markets is narrow and pricing is just average for everyday trading, FXCM caters to multiple trader types. High-volume traders, algorithmic traders, and, overall, traders that appreciate robust trading tools alongside quality market research will find FXCM to be a good fit.
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FXCM vs Interactive Brokers 2020
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall Rating
| Feature | FXCM | Interactive Brokers |
| Overall | ||
| FXCM Review | Interactive Brokers Review | |
| 75.38% of retail CFD accounts lose money | 66% of retail CFD accounts lose money |
Regulation
| Feature | FXCM | Interactive Brokers |
| Trust Score | 92 | 94 |
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Year Founded |
1999 | 1977 |
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Publicly Traded (Listed) |
Yes | Yes |
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Bank |
No | No |
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Tier-1 Licenses |
3 | 6 |
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Tier-2 Licenses |
2 | 0 |
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Tier-3 Licenses |
0 | 0 |
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Authorised in the European Union |
Yes | Yes |
Tier-1 Licenses
| Feature | FXCM | Interactive Brokers |
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ASIC Authorised (Australia) |
Yes | No |
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IIROC Authorised (Canada) |
Yes | Yes |
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SFC Authorised (Hong Kong) |
No | Yes |
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FSA Authorised (Japan) |
No | Yes |
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MAS Authorised (Singapore) |
No | Yes |
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FINMA Authorised (Switzerland) |
No | Yes |
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FCA Authorised (UK) |
Yes | Yes |
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CFTC Registered (USA) |
No | Yes |
Investments
| Feature | FXCM | Interactive Brokers |
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Forex: Spot Trading |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | No |
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Currency Pairs (Total Forex pairs) |
39 | 105 |
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CFDs - Total Offered |
32 | 7400 |
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Cryptocurrency traded as actual |
No | No |
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Cryptocurrency traded as CFD |
Yes | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Cost
| Feature | FXCM | Interactive Brokers |
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Average Spread EUR/USD - Standard |
1.3 (as of Q2 19) | N/A |
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All-in Cost EUR/USD - Active |
0.7 (as of Q2 19) | N/A |
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Active Trader or VIP Discounts |
Yes | Yes |
| Commissions & Fees | ||
| Winner | check_circle |
Funding
| Feature | FXCM | Interactive Brokers |
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Minimum Initial Deposit |
£300 | $0 |
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Bank Wire (Deposit/Withdraw) |
Yes | Yes |
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Visa/Mastercard (Credit/Debit) |
Yes | No |
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PayPal (Deposit/Withdraw) |
No | No |
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Skrill (Deposit/Withdraw) |
Yes | No |
Trading Platforms
| Feature | FXCM | Interactive Brokers |
|
Proprietary Platform |
Yes | Yes |
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Desktop Platform (Windows) |
Yes | Yes |
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Web Platform |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | No |
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MetaTrader 4 (MT4) |
Yes | No |
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MetaTrader 5 (MT5) |
No | No |
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cTrader |
No | No |
Trading Tools
| Feature | FXCM | Interactive Brokers |
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Virtual Trading (Demo) |
Yes | Yes |
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Alerts - Basic Fields |
Yes | Yes |
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Watchlists - Total Fields |
12 | 494 |
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Charting - Indicators / Studies (Total) |
57 | 121 |
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Charting - Drawing Tools (Total) |
18 | 9 |
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Charting - Trade From Chart |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes |
| Platform & Tools | ||
| Winner | check_circle |
Mobile Trading
| Feature | FXCM | Interactive Brokers |
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Android App |
Yes | Yes |
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Apple iOS App |
Yes | Yes |
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Trading - Forex |
Yes | Yes |
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Trading - CFDs |
Yes | Yes |
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Alerts - Basic Fields |
No | Yes |
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Watch List |
Yes | Yes |
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Watch List Syncing |
Yes | Yes |
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Charting - Indicators / Studies |
60 | 70 |
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Charting - Draw Trend Lines |
Yes | No |
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Charting - Trend Lines Moveable |
Yes | No |
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Charting - Multiple Time Frames |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | Yes |
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Forex Calendar |
Yes | No |
| Mobile Trading | ||
| Winner | check_circle |
Research
| Feature | FXCM | Interactive Brokers |
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Daily Market Commentary |
Yes | Yes |
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Forex News (Top-Tier Sources) |
Yes | Yes |
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Weekly Webinars |
Yes | No |
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AutoChartist |
Yes | No |
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Trading Central (Recognia) |
Yes | Yes |
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Delkos Research |
No | No |
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Social Sentiment - Currency Pairs |
Yes | No |
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Economic Calendar |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Education
| Feature | FXCM | Interactive Brokers |
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Has Education - Forex |
Yes | Yes |
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Has Education - CFDs |
No | Yes |
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Client Webinars |
Yes | Yes |
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Client Webinars (Archived) |
Yes | Yes |
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Videos - Beginner Trading Videos |
Yes | No |
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Videos - Advanced Trading Videos |
Yes | Yes |
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Investor Dictionary (Glossary) |
Yes | Yes |
| Education | ||
| Winner | check_circle |
Major Forex Pairs
| Feature | FXCM | Interactive Brokers |
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GBP/USD |
Yes | Yes |
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USD/JPY |
Yes | Yes |
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EUR/USD |
Yes | Yes |
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USD/CHF |
Yes | Yes |
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USD/CAD |
Yes | Yes |
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NZD/USD |
Yes | Yes |
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AUD/USD |
Yes | Yes |
Overall
| Feature | FXCM | Interactive Brokers |
| FXCM Review | Interactive Brokers Review | |
| Overall | ||
| Winner | check_circle |
Comparing forex brokers side by side is no easy task. For our 2020 annual forex broker review, we spent hundreds of hours assessing 30 forex and CFD brokerages to find the best forex broker. Let's compare FXCM vs Interactive Brokers.
Does FXCM or Interactive Brokers offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Interactive Brokers offers better pricing overall for traders.
Is FXCM or Interactive Brokers safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. Interactive Brokers holds 6 global Tier-1 licenses, while FXCM holds 3. FXCM holds 2 global Tier-2 licenses, while Interactive Brokers holds 0. All regulators considered, Interactive Brokers has a Trust Score of 94.00, while FXCM's Trust Score is 92.00.
Which trading platform is better: FXCM or Interactive Brokers?
To compare the trading platforms of both FXCM and Interactive Brokers, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FXCM offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps.
What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. While FXCM offers copy trading, Interactive Brokers does not. FXCM offers MetaTrader 4 (MT4), while Interactive Brokers does not.
How many forex pairs and CFDs are available to trade?
Interactive Brokers provides traders 105 currency pairs (e.g., EUR/USD) compared to FXCM's 39 available pairs. Forex pairs aside, Interactive Brokers offers traders access to 7400 CFDs while FXCM has 32 available CFDs, a difference of 7,368.
Overall, between FXCM and Interactive Brokers, FXCM is the better forex broker.
FXCM ReviewInteractive Brokers Review
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Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
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